Mccormick & Co Stock Price, News & Analysis

McCormick & Company (NYSE: MKC) has announced that Chief Growth Officer Kasey Jenkins will retire in early 2026 after a 32-year career with the company. Jenkins, who joined McCormick in 1993 as a Financial Analyst, has held various leadership positions including CFO of North America and VP of Investor Relations. Since 2022, her role expanded to oversee Corporate Strategy, Sustainability, and Development. Throughout her tenure, Jenkins enhanced Global Finance capabilities, improved supply chain performance, and contributed to shareholder value creation through strategic initiatives. The transition of her responsibilities to senior leaders will occur throughout 2025.

McCormick & Company (NYSE: MKC), a global leader in flavor, announced its participation in Deutsche Bank's annual dbAccess Global Consumer Conference. The company's presentation is scheduled for June 3, 2025, at 8:30 AM CEST. Brendan Foley, Chairman, President & CEO, and Marcos Gabriel, Executive Vice President & CFO, will represent McCormick at the conference. Investors can access a live audio webcast of the session through McCormick's investor relations website at ir.mccormick.com, where a replay will also be available after the event.

McCormick (NYSE: MKC) awarded $105,000 in total scholarships through its 2025 Unsung Heroes program, recognizing student-athletes for their unselfish team play. Kayla Carter from Franklin High School and Ty Simpson from Owings Mills High School received the prestigious Charles Perry McCormick scholarships, worth $40,000 each over four years.

Four additional scholarships were awarded: $7,500 each to Arieon Stokes and Thomas Brandel, and $5,000 each to Tristian Savage and Angel Franco. Olympic Gold Medalist Aly Raisman served as keynote speaker at the ceremony, which was held at Baltimore's France-Merrick Performing Arts Center.

The Unsung Heroes program, established in 1940 by Charles P. McCormick Sr., recognizes student-athletes who contribute significantly to their school's success without receiving widespread recognition.

McCormick (NYSE:MKC) has announced its quarterly dividend payment, maintaining its long-standing tradition of shareholder returns. The company's Board of Directors has declared a quarterly dividend of $0.45 per share on its common stocks. The dividend will be payable on April 21, 2025, to shareholders of record as of April 7, 2025. This declaration marks McCormick's 101st consecutive year of dividend payments, highlighting the company's consistent commitment to delivering value to its shareholders.

McCormick (NYSE:MKC) reported first quarter 2025 financial results with flat sales compared to the previous year, showing a 2% volume growth offset by a 2% unfavorable currency impact. Operating income decreased to $225 million from $234 million year-over-year.

Key highlights include:

• Consumer segment sales remained at $919 million with 1% organic growth
• Flavor Solutions segment sales increased 1% to $686 million
• Earnings per share decreased to $0.60 from $0.62 year-over-year
• Gross profit margin expanded by 20 basis points

The company reaffirmed its fiscal 2025 outlook, expecting foreign currency rates to unfavorably impact sales by 1%, adjusted operating income by 1%, and adjusted earnings per share by 2%. McCormick continues to focus on cost savings initiatives through its Comprehensive Continuous Improvement (CCI) program to fuel investments and drive operating margin expansion.

McCormick & Company (NYSE: MKC) has announced it will release its first quarter 2025 financial results on March 25, 2025 at 8:00 a.m. Eastern Time. The company will host a conference call and webcast featuring Chairman, President & CEO Brendan Foley, Executive Vice President & CFO Marcos Gabriel, and VP of Investor Relations Faten Freiha.

The presentation will be available through a live audio webcast on ir.mccormick.com. For those unable to attend, an audio replay will be accessible until April 15, 2025, by calling 877-660-6853 (US) or 201-612-7415 (international) with conference ID 13752085.

Holladay Distillery has broken ground on Rickhouse D, its fourth ironclad rickhouse in Missouri, responding to increased consumer demand. The new facility will be constructed over 8-9 months with an 11,000-barrel capacity, maintaining consistency with existing rickhouses that span approximately 9,000 square feet and hold 10,000-12,000 barrels.

After a bourbon distilling hiatus from 1985 to 2015, Holladay resumed production using its original 1856 mash bill, leading to the release of Ben Holladay Bourbon in 2022. In 2016, they introduced a new soft red wheat mash bill, resulting in Holladay Soft Red Wheat Bourbon in 2023. The company's portfolio includes Rickhouse Proof, One Barrel Bourbons, and the Ancient Cave Collection, all of which will benefit from the expanded capacity.

McCormick & Company (NYSE: MKC) has announced its upcoming presentation at the Consumer Analyst Group of New York (CAGNY) Conference scheduled for February 18, 2025, at 4:00 p.m. ET. The global flavor leader will be represented by Brendan Foley, Chairman, President & CEO, and Marcos Gabriel, Executive Vice President & CFO.

The presentation will be accessible through a live webcast on McCormick's investor relations website at ir.mccormick.com. For those unable to attend the live event, a replay will be made available on the same platform following the presentation.

McCormick (NYSE:MKC) reported strong financial results for Q4 and fiscal year 2024. Fourth quarter sales increased 3% with a 1% currency benefit, while fiscal year sales grew 1%. Q4 earnings per share was $0.80 compared to $0.81 in 2023, while adjusted EPS was $0.80 versus $0.85 in 2023.

For fiscal year 2024, earnings per share reached $2.92 compared to $2.52 in 2023, with adjusted EPS of $2.95 versus $2.70. Cash flow from operations was $922 million, down from $1.2 billion in 2023. The company increased its quarterly dividend by 7%, marking the 39th consecutive year of dividend increases.

Looking ahead to 2025, McCormick expects net sales growth of 0-2% (1-3% in constant currency), operating income growth of 3-5%, and adjusted earnings per share of $3.03-$3.08. The company anticipates a tax rate of 22% and plans to continue returning significant cash flow to shareholders through dividends.